Back in October, Microsoft started to release cumulative or roll-up packages for Windows 7 SP1, Windows 8.1, Windows Server 2008 R2, Windows Server 2012, and Windows Server 2012 R2.
They consist of a security only package that has all the updates for that month only. They call it the Security Only Quality Update [SOQU].
There is also the monthly roll-up which includes all security and non-security updates since October 2016. They call it the Security Monthly Quality Update [SMQU].
If you install the SMQU, it will bring you up to date quite fast. It also replaces all SMQUs since October 2016]. It technically also replaces all SOQUs since October 2016 as well.
If you just want security updates, you would need to install every monthly SOQU available from October 2016 and on.
From October 2016 to January 2017 the SOQU contained all supported Internet Explorer updates. As of February 2017, Microsoft has removed IE from the SOQU and IE will be a separate update. This was requested by enterprise clients. [The SMQU will still incorporate the latest IE update.] As usual, none of the updates will upgrade your version of IE.
Months with no new Windows security or reliability fixes will not have a SOQU or SMQU release. [Of course with Windows, that gets a bit unlikely!]